Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) traded down 5.9% on Thursday . The company traded as low as $2.06 and last traded at $2.06, with a volume of 343,041 shares changing hands. The stock had previously closed at $2.19.

A number of equities research analysts have recently weighed in on the stock. Jefferies Group restated a “buy” rating on shares of Rigel Pharmaceuticals in a research note on Wednesday, May 4th. Zacks Investment Research upgraded shares of Rigel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 6th. HC Wainwright assumed coverage on shares of Rigel Pharmaceuticals in a research report on Wednesday. They set a “buy” rating and a $6.00 target price on the stock. Credit Suisse Group AG upgraded shares of Rigel Pharmaceuticals to a “buy” rating in a research report on Saturday, April 23rd. Finally, JPMorgan Chase & Co. upgraded shares of Rigel Pharmaceuticals from a “neutral” rating to an “overweight” rating and set a $5.00 target price on the stock in a research report on Friday, April 22nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Rigel Pharmaceuticals currently has an average rating of “Buy” and an average price target of $6.35.

The stock has a 50-day moving average price of $2.35 and a 200 day moving average price of $2.47. The stock’s market cap is $200.87 million.

Rigel Pharmaceuticals (NASDAQ:RIGL) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.19) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.19). The company earned $5.03 million during the quarter, compared to the consensus estimate of $4 million. During the same quarter last year, the company posted ($0.21) earnings per share. The firm’s revenue for the quarter was up 130.7% on a year-over-year basis. Analysts forecast that Rigel Pharmaceuticals Inc. will post ($0.64) earnings per share for the current fiscal year.

Rigel Pharmaceuticals, Inc is a clinical-stage drug development company. The Company discovers and develops small-molecule drugs for the treatment of inflammatory and autoimmune diseases, immuno-oncology related diseases, and muscle disorders. Its research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms.

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